Answer:
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.
Explanation:
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.
Answer:
the answer is 3.5 billion i think
False. As trade will also cause the average level of wages in an economy to rise and not fall.
<h3>The relationship between free trade and wages</h3>
Free trade results in an increase in all factor incomes, including wages, interest rates, profits, and rents, which raises GDP and makes more money available for company investment, which boosts global trade.
Trade will increase the average pay level in an economy because it increases the amount that an economy can produce by allowing businesses and workers to take use of their comparative advantages.
Therefore, employers will value employees who can create more, which will cause the demand for their labor to move to the right and raise earnings in the labor market. Contrarily, trade restrictions will cause an economy's average pay level to decline.
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That would be an example of traditional economy.
Brennan Manufacturing monitors the number of customer returns for each product model to attempt to track when the organization is producing a large number of defective products. This is an example of: Feedback control.
